KCRA 3 TV Sacramento-Area Mortgage Fraud Investigative Reports Continue

The most recent KCRA 3 TV report on investigative reporter Josh Bernstein's Elk Grove, California mortgage fraud investigation is available here.

Mario Fellini, one of the mortgage brokers at the center of KCRA 3's investigation has surrendered his license and is no longer allowed to operate as a mortgage broker in California.

Reportedly, this action has no effect on a currently ongoing FBI and IRS investigation into the alleged falsification of more than $9 million worth of loan applications by Fellini and his business associates. KCRA 3 reports that sources close to the investigation say the investigation continues to move forward and will likely go before a grand jury in a matter of weeks. In addition to Fellini, others that have reportedly had some connection with the alleged mortgage fraud scheme are:

• Jim Martin, Gabriel Viramontes, Joseph Gallo and Jennifer Huang; and the firms Freedom Capitol Mortgage, VFM Investment Group, and Esnian Mortgage & Realty Network.

Go here to watch the latest KCRA 3 TV report. To read KCRA 3's online report, see Mortgage Broker Under Fire Surrenders License (Offices Raided By FBI).

Go here for prior posts on the KCRA 3 investigation, which include links to KCRA 3 Josh Bernstein's previous investigative reports on this alleged mortgage scam.